Edit Content

June 29, 2022


Edit Content


Angola Guarantee Fund facilitates access to credit for 216 companies

A sum of 216 companies had, in 2023, access to credit with the facilitation of the Credit Guarantee Fund (FGC), which represents 96 more companies compared to 2022. According to a press release from the FGC, sent to ANGOP, this number of companies corresponded to guarantees valued at more than 184 billion Kwanzas ($220.6 million), the result of bank financing in the order of 298 billion Kwanzas ($357.3 million). Also read: Angola has new importer of refined petroleum products In 2022, the volume of guarantees was 62 billion Kwanzas ($74.4 million), with bank financing set at 106 billion Kwanzas ($127.1 million).

According to the note, during 2023 the Agriculture sector led the list of guarantees issued, with 74 projects and a guarantee volume valued at more than 63 billion Kwanzas ($75.6 million). The fishing area comes next with 57 projects, manufacturing industry with 56, livestock with 14 and support services for the productive sector with 15. The projects guaranteed by the FGC are financed by different banks operating in Angola. This year, the report

points out, the fund intends to issue a thousand public guarantees, facilitating access to financing for the business sector and promoting national production, axes that are part of the set of measures to stimulate the economy and boost its potential, as outlined by the Executive. In 2023, the FGC launched the Credit Guarantee Acceleration and Promotion Plan, which establishes partnerships with commercial banks for the automatic approval of public guarantees in financing of up to 200 million Kwanzas ($239.776), providing for risk coverage of up to 80% of capital for projects financed by women.

The Credit Guarantee Fund was created in 2012 with the aim of facilitating access to bank credit for micro, small and medium-sized companies and individual entrepreneurs. Related